Microchip Technology Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Microchip Technology Inc. (MCHP) announced earnings for second quarter that declined from the same period last year.

The company's bottom line came in at $96.3 million, or $0.38 per share. This compares with $189.2 million, or $0.77 per share, in last year's second quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $454.6 million or $1.81 per share for the period.

Analysts had expected the company to earn $1.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 41.6% to $1.43 billion from $1.01 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $454.6 Mln. vs. $344.1 Mln. last year. -EPS (Q2): $1.81 vs. $1.41 last year. -Analysts Estimate: $1.73 -Revenue (Q2): $1.43 Bln vs. $1.01 Bln last year.

-Guidance: Next quarter EPS guidance: $1.49 - $1.64 Next quarter revenue guidance: $1.362 - $1.438 Bln